Hi guys I'm back updating my gold scenario.
In my yesterday analysis, I highlighted area 1954 as a supply level , being tested multiple times was broken during Mr. Powell speech. leaving us with only one immediate area ,1978 as a supply zone. But since underlying fundamentals are bullish I need to confirm my entry in lower time frames to go short otherwise it's kind of risky. Should price get through the area I'm expecting 2004 area as another sell zone.
Our immediate demand area is around 1970-1972 which has proven itself once. Going long from this demand level like always requires checking lower time frames for further confirmation.
Below our immediate demand level we have 1962 which is the broken resistance and could support the price should get there.
Make sure you have these levels on your chart and do your own assessment while taking any trades.
Be honorable
In my yesterday analysis, I highlighted area 1954 as a supply level , being tested multiple times was broken during Mr. Powell speech. leaving us with only one immediate area ,1978 as a supply zone. But since underlying fundamentals are bullish I need to confirm my entry in lower time frames to go short otherwise it's kind of risky. Should price get through the area I'm expecting 2004 area as another sell zone.
Our immediate demand area is around 1970-1972 which has proven itself once. Going long from this demand level like always requires checking lower time frames for further confirmation.
Below our immediate demand level we have 1962 which is the broken resistance and could support the price should get there.
Make sure you have these levels on your chart and do your own assessment while taking any trades.
Be honorable
Comment:
I was able to spot the entry around 1983 in 5 min chart and took a short.
Comment:
Going for 2004 sell zone
Comment:
inside 2004-2014 sell zone
